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Great summary. Plus they admitted the main revenue generating...

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jigjigwhip

227 Posts.

46

03/08/20

10:18

Post #: 46258020
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Originally posted by FraserJC: ↑

My Take:

Revenue flat.
Net cashlow worse than the previous quarter
Admin & corporate costs up 20%
Advertising costs down, and equal to only 1.2% of admin/corp costs. i.e. no marketing or advertising occurring.
39 million shares issued to cover expenses that they couldn't afford. i.e. dilution through the roof.
$552k of transactions costs incurred to raise equity of only $1.5 million. i.e. outrageous!
Only $64k of debt repaid, with transactions costs related to loans of $268k. i.e. for every $1 of debt repaid, $4.18 of other costs were inccurred = going backwards.
$286k hit on unhedged fx movements = rookie play.
$599k paid to directors and related parties, including $332k to Everblu.
Of everblu's $332k pay day, $109k was from additional fees mandated by Everblu in their contract reset earlier in the year, in which shareholders had no say. i.e. incredulous.
Outstanding debt of $5.5 million, with quarterly losses of $1.5 million and flat revenue = doomed IMHO.

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Great summary. Plus they admitted the main revenue generating vertical is no longer legal. Shambles.
CPH Price at posting: 3.2¢ Sentiment: Sell Disclosure: Not Held
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0 Great analysis

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